TransferWise’s next partnership could be with U.K. challenger bank Monzo

Jun 6, 2018 · techcrunch.com

Hot on the heels of announcing that it has partnered with France’s BPCE Groupe, TransferWise could be about to unveil another partnership with a bank. According to sources, the international money transfer service and European unicorn is working with the fast-growing U.K. challenger bank Monzo.

The tie-in will likely see TransferWise functionality offered within Monzo ’s mobile banking app, courtesy of the TransferWise API. It will give Monzo’s 700,000 customers the ability to send money in various supported currencies at the ‘mid-market’ rate in addition to TransferWise’s low and transparent fees.

Along with the newly-announced partnership with BPCE Groupe — which won’t ship until next year — TransferWise is also working with Estonia’s LHV, and German challenger bank N26 (which also has plans to launch in the U.K.).